Debt Help

Information and advice from our Licensed Insolvency Trustees about your debt relief options and how you can get out of debt. We explain and compare different debt solutions including credit counselling, debt management plans, debt consolidation and debt settlement.

If you have a lousy credit score, chances are you already carry high-interest debt. Your ability to obtain a debt consolidation loan at a reasonable rate when you have bad credit is severely compromised. You... Read more »

A frozen bank account is one of the remedies available to creditors to collect an outstanding debt when you are behind on your payments. If your account is frozen, you will not be able to... Read more »

Most people we help with debt have been struggling unnecessarily with debt repayment for months, if not years. Running on the debt treadmill is a financial hardship no-one needs to endure. When you can’t afford... Read more »

Defaulting on a loan has serious consequences, both for your finances and your credit. Missing a payment or two can be rectified, but being several months in delinquency, however, has bigger implications. Here is some... Read more »

Did you know it takes the average post-secondary student more than 10 years to repay their student debt? One in six insolvencies in Canada involved someone looking for student loan forgiveness. Why? Because after years... Read more »

Student loans are only automatically discharged when you file bankruptcy in Canada if you have ceased to be a student for more than seven years at the time you file. However, there are cases in which... Read more »

Here’s a bold statement for you: debt levels don’t matter. Why? Because it’s not the level of debt that causes the problem necessarily. It’s whether or not you can service it. On our year-end review... Read more »

You’ve probably heard the stories of how a $90,000 debt was paid off in just 3 years. Or a $115,000 debt was paid down in just 2.5 years. While these are certainly inspiring events, they’re... Read more »

If you think your finances are under control because you’re keeping up with minimum monthly payments on credit card debt, think again. To become debt free, you need to pay down more of your balances.... Read more »

With the rapid rise in the real estate market, you may now find yourself with significant equity in your home, yet you are also carrying high interest unsecured debt. On paper you have equity in... Read more »

When you have debt on more than one credit card, a common solution to managing payments is to get a debt consolidation loan. But, if you’ve fallen behind on your monthly bills or have multiple... Read more »

Before you decide on a debt relief solution in Ontario, make sure you understand the implications of each. While every option has its own benefits in terms of interest savings and cost, each one also... Read more »

Trying to make debt an everyday topic is difficult. What’s more, most people who are in my line of work have an accounting background. As such, there’s a tendency to be more numbers-focused than say,... Read more »